Azerbaijan’s Communications and High Technologies Ministry recently announced that Azerpoçt, the country’s government-backed postal service provider, plans to start microlending as a part of the ministry’s plans to expand its credit offerings. The Communications Minister, Ali Abbasov, said that the expansion activities would be “focused at villages and regions for development of small business.”
Azerpoçt had announced its intention to start offering microcredit previously in 2014 and in 2010, as reported by MicroCapital at those times. As of 2014, Azerpoçt had approximately 1,600 branches in the country.
By Arpita Sarkar, Research Associate
About Azerpoçt:
Azerpoçt was founded in 1999 by order of Azerbaijan’s Ministry of Communication. In addition to postal services, the organization provides financial services including debit cards, currency exchange, utility payments and money transfers. As of 2014, Azerpoçt had approximately 1,600 branches.
Sources and Additional Resources:
[1] ABC.az: “Azerbaijan’s Mail ready to start microlending in regions,” http://abc.az/eng/news_18_05_2015_88490.html
MicroCapital Story, May 6, 2014, “MICROCAPITAL BRIEF: Postal Service Azerpoçt to Provide Microcredit in Azerbaijan,” https://www.microcapital.org/microcapital-brief-postal-service-azerpoct-to-provide-microcredit-in-azerbaijan/
MicroCapital Story, December 13, 2010, “MICROCAPITAL BRIEF: Azerbaijan’s Postal Operator to Offer Microcredit Starting in 2011,” https://www.microcapital.org/microcapital-brief-azerbaijan’s-postal-operator-to-offer-microcredit-starting-in-2011/
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